Electronic Arts announces layoffs of about 670 employees

Shortly after PlayStation announced that it was cutting 900 jobs, Electronic Arts followed suit, confirming a 5% reduction in staff, meaning that 670 employees will be affected.

Here's What We Know

In an address to employees, EA CEO Andrew Wilson explained the company's decision to abandon further development of licensed intellectual property, believing that it has less chance of success "in our changing industry". Instead, the company will focus on its own intellectual property, sports games and online experiences. He stated:

"Given how and where we are working, we are continuing to optimize our global real estate footprint to best support our business. We are also sunsetting games and moving away from development of future licensed IP that we do not believe will be successful in our changing industry. This greater focus allows us to drive creativity, accelerate innovation, and double down on our biggest opportunities — including our owned IP, sports, and massive online communities — to deliver the entertainment players want today and tomorrow. Lastly, we are streamlining our company operations to deliver deeper, more connected experiences for fans everywhere that build community, shape culture, and grow fandom."

Source: GamingBolt